Liquid is not like an ETF or paper Bitcoin. Liquid is a monero like sidechain & it is a bridge for cheaply, & privately onboarding more people into lightning & other scaling solutions.
Discussion
Who does hold the keys of pegged-in #Bitcoin?
A federation of 60+ (& growing) people & organizations. And since they can't see how the money moves, & they can't change the supply, & they would all have to collude to kill the very infrastructure they benefit from, I certainly don't see why it's not a completely valid way to help solve the scaling problem. There are some tradeoffs, but it's far more secure than any shitcoin & it actually contributes to LN privacy. Fediment is basically just a small scale version of a similar thing.
It says right on their scam site that “designated parties” can see the sensitive details.
That tRaDe OfFs🤦♂️
Not your keys, not your #Bitcoin.
Do not trust, verify.
Can I hold the keys?
Can I run Liquid node?
Never forget EO6102. Do not allow #Bitcoin to become gold.
You can run a liquid full node that allows you to ensure federation members are behaving. You can also potentially become a federation member, though I do not know the requirements.
Monero-like is a stretch. Liquid only hides amounts (confidential transactions).
It doesn't obfuscate sender, IP, or hide reciever (doesn't have ring sigs, dandelion++, or stealth addresses)
"A sent $[?] to B"
VS
"6% chance A sent $[?] to [?]"
Virtually no one uses liquid either (market says na)
But even worse than all that it is permissioned to peg out and not trustless.
Why do maxis contort themselves to support this shit? Like the apologia for WoS? I don't get it. Any shitcoin that had these properties without the "Bitcoin" in name-only brand would immediately be denounced.